MGIC Investment Corporation $MTG Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lowered its position in shares of MGIC Investment Corporation (NYSE:MTG) by 6.3% during the second quarter, Holdings Channel reports. The fund owned 83,598 shares of the insurance provider’s stock after selling 5,603 shares during the quarter. Yousif Capital Management LLC’s holdings in MGIC Investment were worth $2,327,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MTG. WPG Advisers LLC acquired a new stake in MGIC Investment during the first quarter worth approximately $26,000. Cullen Frost Bankers Inc. acquired a new stake in MGIC Investment during the first quarter worth approximately $33,000. Quarry LP acquired a new stake in MGIC Investment during the first quarter worth approximately $38,000. Geneos Wealth Management Inc. boosted its position in MGIC Investment by 88.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 817 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in MGIC Investment during the second quarter worth approximately $49,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Stock Up 1.4%

Shares of MTG opened at $26.94 on Friday. The firm has a market cap of $6.21 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 1.92 and a beta of 0.88. The company’s fifty day moving average is $27.82 and its two-hundred day moving average is $26.53. MGIC Investment Corporation has a fifty-two week low of $21.94 and a fifty-two week high of $29.01. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, July 30th. The insurance provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. The company had revenue of $304.25 million for the quarter, compared to analyst estimates of $306.25 million. MGIC Investment had a net margin of 62.58% and a return on equity of 14.73%. MGIC Investment’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business earned $0.77 EPS. Analysts forecast that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Thursday, August 7th. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.13. MGIC Investment’s dividend payout ratio (DPR) is presently 19.67%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MTG shares. Keefe, Bruyette & Woods raised their target price on shares of MGIC Investment from $26.00 to $27.00 and gave the stock a “market perform” rating in a research report on Monday, July 7th. Weiss Ratings reiterated a “buy (a-)” rating on shares of MGIC Investment in a report on Wednesday, October 8th. Finally, Barclays lifted their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, MGIC Investment has a consensus rating of “Hold” and a consensus price target of $26.83.

Insider Buying and Selling at MGIC Investment

In related news, COO Salvatore A. Miosi sold 30,000 shares of MGIC Investment stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $28.15, for a total transaction of $844,500.00. Following the transaction, the chief operating officer owned 189,401 shares in the company, valued at approximately $5,331,638.15. The trade was a 13.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Mattke sold 139,203 shares of MGIC Investment stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $26.54, for a total transaction of $3,694,447.62. Following the transaction, the chief executive officer owned 1,100,994 shares in the company, valued at $29,220,380.76. The trade was a 11.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 338,406 shares of company stock worth $9,096,557 in the last 90 days. Company insiders own 1.05% of the company’s stock.

About MGIC Investment

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.